Two small trucking fleets file for Chapter 7 bankruptcy
Story by: Clarissa Hawes at FreightWaves.com
Two small trucking companies in Arkansas and Texas filed for Chapter 7 liquidation in April.
Family-owned Fairfield Trucking Inc. of Hamburg, Arkansas, headed by James Andrew Barnes, submitted a bankruptcy petition in mid-April.
The company lists assets ranging from $0 to $50,000 and liabilities as being between $500,000 and $1 million, according to its filing with the U.S. Bankruptcy Court for the Western District of Arkansas. The carrier, which hauled building materials, general freight and paper products, lists up to 199 creditors.
Fairfield Trucking was started by Jerry R. Barnes in 1981 and grew from one owner-operator to over 30 and had over 200 drivers at one time.
However, at the time of its closure, the carrier had 30 trucks and the same number of drivers, according to the Federal Motor Carrier Safety Administration’s (FMCSA) SAFER website. The company’s operating authority was revoked on January 27 after its insurance was canceled nine days earlier.
Another small carrier, Ease N On Trucking LLC of Pleasanton, Texas, also filed for Chapter 7 protection in mid-April.
The company lists assets and liabilities as being between $500,000 to $1 million in its petition filed by owner Richard K. Esser in the U.S. Bankruptcy Court for the Western District of Texas.
The carrier, which hauled oilfield equipment, general freight and dry bulk commodities, lists up to 99 creditors.
According to FMCSA, Ease N On had 28 power units and 31 drivers. The company’s operating authority was revoked on November 14, 2019, after its insurance was canceled six days earlier.
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Source of original story and credits: freightwaves
iTrucker / Mario Pawlowski
Read more articles by FreightWaves’ Clarissa Hawes